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($202.94 k)
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CoinMarketCap.comVMPX was launched as one of the first BRC-20 tokens on Bitcoin, and subsequently as an ERC-20 token on Ethereum, each with a total supply of 108,624,000 tokens.
When VMPX (BRC-20) launched on the Bitcoin network, it encountered extremely high demand, which significantly disrupted the network. Transaction fees soared to an unprecedented 600 sat/vB, accompanied by nearly 400,000 mint transactions. The disruption resulted in outflows from Binance totalling $4.95 billion.
For the first time, revenue from on-chain transactions surpassed that from block rewards for miners. This event effectively demonstrated that miners can have financial incentives even after block rewards diminish, and also highlighted the scalability challenges of Bitcoin's blockchain in accommodating rising demand.
The launch of VMPX (ERC-20) on Ethereum was strategically designed to replicate the conditions seen during its Bitcoin deployment, with a specific focus on monopolizing entire blocks solely for minting the token. VMPX (ERC-20) mirrored the VMPX (BRC-20) mint by aiming to utilize as much block space as possible. As a result, currently 599.9MiB, or 0.2% of the whole ethereum state consists of VMPX(ERC-20) data. (LINK)
VMPX was launched by the Fair Crypto Foundation, spearheaded by Googles first backend engineer @mrJackLevin, as community building assets during L1 network testing, leading up to the launch of X1 blockchain. VMPX on both Bitcoin and Ethereum qualify for the TGE of the X1 blockchain
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